The Abu Dhabi-based Emirates said it had no plans to take any equity share in South African Airways or any other airline as it pursues cost-conscious discipline. It was one of the last likely buyers for state-owned SAA, which has not turned a profit since 2011.

Dubai’s Emirates Airline profits for its financial year ending in March more than doubled to $762 million, and the carrier ferried a record number of passengers. Adding premium economy seats may help sustain the momentum.

To be clear, Emirates isn't unusual here. The entire airline industry is forecast to need more than 25,000 new pilots a year for the next couple of decades to keep up with demand and a workforce that is retiring. One way to address the shortfall would be to (cough, cough) pay pilots more.

The low-cost, long-haul model will come to Asia, says AirAsia's Tony Fernandes, if customers are willing to pay for it. Fernandes isn't shy about saying he's jealous about some of the moves Norwegian Air has made.

The U.S. laptop ban affects both Gulf carriers. But Emirates is driven more by commercial considerations than Qatar, and it has less desire to absorb the pain of flying half-empty planes merely to stake out a position.

Tim Clark, president of the Dubai government-owned airline, says the cuts to the number of flights to the U.S. is temporary. He's wearing a brave face, as U.S. airlines will lobby hard to further hobble the company's growth.

European carriers are facing a bigger challenge from the Gulf airlines than their U.S. counterparts while they also grapple with massive labor conflicts and an air traffic control system that's in shambles.